Washington (CNN)President Donald Trump’s advisers huddled on Friday to begin developing plans that would both stanch the economic effects of the spreading coronavirus outbreak and impose new restrictions on travelers from Japan and South Korea, according to people familiar with the matter. No decisions have been made to help prevent more market carnage after Wall Street ended its worst week since 2008. Trump has demanded that advisers identify steps that would both boost confidence in his administration’s ability to confront the outbreak and inspire economic optimism. Several options are being debated, and White House officials have eyed Federal Reserve action as a possibility. Tax cuts, tariff relief on China and invoking a 1950s wartime law to boost production of medical equipment are also on the table, according to officials. Trump said on Friday that he was also close to deciding whether to impose new travel restrictions on at least two countries with a “disproportionately high number” of coronavirus cases: “We’re going to make that decision very soon.” Senior officials said Japan and South Korea were likely targets for the new restrictions. Read More ‘No silver bullet’ The White House struggle for a policy response to limit economic damage faces multiple… Read full this story
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